Startup Armis Closes Funding at $4.6 Billion Valuation, Eyes IPO
US cybersecurity startup Armis said Monday that it’s preparing for an initial public offering in 2026 after closing a $200 million funding round that valued it at $4.2 billion.
Tweet on Armis Security closing funding
US cybersecurity startup @ArmisSecurity Raises $200M at $4.2B Valuation as Growth Soars, Eyes IPO#startup #DataSecurity #IPO https://t.co/Tn2GLLflcE
— The_Journalbiz (@the_journalbiz) October 28, 2024
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Armis’s latest funding round was led by General Catalyst and Alkeon Capital Management LLC, along with existing investors Brookfield Technology Partners and Georgian, the company said in an emailed statement. The company said it’ll use the money to invest in product innovation and to take advantage of potential acquisition opportunities.
- Cyber startup secured $200 million in latest funding round
- Firm has been preparing for an IPO for more than a year
Armis, which provides risk management services for companies including United Airlines, Colgate-Palmolive Co. and Mondelez International Inc., has been eyeing an IPO for over a year but has held off, along with several other startups, waiting for a better market. IPOs in the US have been on a steady path to recovery, with the amount raised so far this year well above 2023 levels.
Armis said it recently surpassed $200 million in annual recurring revenue and is now targeting $500 million.
